Forbes J M & Co. LLP Reduces Holdings in Carrier Global Co. (NYSE:CARR)

Forbes J M & Co. LLP cut its position in Carrier Global Co. (NYSE:CARRFree Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,175 shares of the company’s stock after selling 205 shares during the quarter. Forbes J M & Co. LLP’s holdings in Carrier Global were worth $359,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in Carrier Global during the 3rd quarter worth approximately $1,252,000. CI Investments Inc. grew its stake in shares of Carrier Global by 3.1% during the 3rd quarter. CI Investments Inc. now owns 9,596 shares of the company’s stock worth $530,000 after purchasing an additional 288 shares during the period. Rathbones Group PLC lifted its position in shares of Carrier Global by 36.7% during the 3rd quarter. Rathbones Group PLC now owns 7,150 shares of the company’s stock valued at $395,000 after acquiring an additional 1,920 shares during the period. Hsbc Holdings PLC lifted its position in shares of Carrier Global by 2.9% during the 3rd quarter. Hsbc Holdings PLC now owns 1,018,460 shares of the company’s stock valued at $56,229,000 after acquiring an additional 28,758 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of Carrier Global by 25.0% in the 3rd quarter. LPL Financial LLC now owns 386,244 shares of the company’s stock worth $21,321,000 after acquiring an additional 77,141 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Insider Activity at Carrier Global

In other Carrier Global news, insider Jurgen Timperman sold 159,915 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Kyle Crockett sold 4,611 shares of Carrier Global stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $66.39, for a total value of $306,124.29. Following the completion of the sale, the chief accounting officer now directly owns 2,042 shares in the company, valued at $135,568.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jurgen Timperman sold 159,915 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $61.95, for a total transaction of $9,906,734.25. The disclosure for this sale can be found here. Insiders have sold a total of 262,954 shares of company stock worth $16,650,050 in the last 90 days. Company insiders own 6.95% of the company’s stock.

Carrier Global Stock Performance

NYSE CARR traded down $1.15 during trading hours on Friday, reaching $62.88. 6,381,659 shares of the company were exchanged, compared to its average volume of 3,199,438. The company has a quick ratio of 0.99, a current ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $56.66 billion, a P/E ratio of 43.97, a P/E/G ratio of 2.59 and a beta of 1.33. Carrier Global Co. has a 1 year low of $45.68 and a 1 year high of $66.50. The business’s 50 day simple moving average is $62.25 and its 200-day simple moving average is $58.40.

Carrier Global (NYSE:CARRGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.12. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $6.27 billion. Carrier Global had a return on equity of 26.01% and a net margin of 5.41%. On average, equities research analysts expect that Carrier Global Co. will post 2.85 earnings per share for the current year.

Carrier Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 21st will be paid a $0.19 dividend. The ex-dividend date is Friday, June 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Carrier Global’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CARR shares. Wells Fargo & Company raised their price target on Carrier Global from $59.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Barclays raised their price objective on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Citigroup boosted their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Robert W. Baird raised their price target on shares of Carrier Global from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Oppenheimer upped their target price on shares of Carrier Global from $63.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Carrier Global currently has an average rating of “Hold” and a consensus target price of $62.86.

Read Our Latest Analysis on Carrier Global

Carrier Global Company Profile

(Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.

Further Reading

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Institutional Ownership by Quarter for Carrier Global (NYSE:CARR)

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